productivity-related: if the virus forces firms to shed labor beyond a certain threshold, productivity suffers. The second … collateral. Expected productivity determines collateral value; in turn, collateral value can limit borrowing and productivity. As … borrowing and low employment and productivity. The model helps identify policies to fight the effects of the pandemic …

productivity-related: if the virus forces firms to shed labor beyond a certain threshold, productivity suffers. The second … collateral. Expected productivity determines collateral value; in turn, collateral value can limit borrowing and productivity. As … borrowing and low employment and productivity. The model helps identify policies to fight the effects of the pandemic …

production yield uncertainty, private information about its productivity (adverse selection) and potentially unverifiable … result because the manufacturer has private productivity information. This provides an upper bound on how much a government …